Protected growth
How the FSCS protects your savings with Nomo
Nomo Bank
1 Apr 2025
When it comes to saving money, security is as important as the potential for growth. With Nomo's Instant Access Saver, you can benefit from both: the opportunity to earn expected profits, and the reassurance that comes with FSCS protection.
What is the FSCS?
The Financial Services Compensation Scheme (FSCS) is a UK compensation fund for protecting customers of authorised financial services firms, like Nomo. It was established by the UK government to protect your money if a financial firm fails.
FSCS protection for Nomo customers
As a customer of Nomo's Instant Access Saver, your deposits are protected up to £85,000. This means if Nomo were to face financial difficulties, the FSCS would compensate you up to this amount, making sure your money is secure.
Why is this important?
FSCS protection offers reassurance to savers who want to know that their deposits are secure, no matter what. It allows you to save with confidence, knowing that your savings are backed by a solid safety net.
Earning expected profits with confidence
With FSCS protection, you can focus on what's important: growing your savings. Nomo's Instant Access Saver offers competitive expected profit rates, allowing your money to increase while you enjoy the flexibility of instant access to your funds.
Committed to security
Nomo's partnership with the FSCS reflects a commitment to providing a secure and trustworthy banking experience. It's a testament to our dedication to the safety of your money held with Nomo.
Find out more about the FSCS here.
What does it mean to be a regulated bank?
As a regulated bank, we’re subject to stringent controls by authorities like the PRA (Prudential Regulation Authority) and the FCA (Financial Conduct Authority). This makes sure that Nomo follows strict rules to maintain financial stability and protect your money.
Banks need to keep a certain amount of money to cover any losses and stay stable during tough financial times. This helps lower the chance of a bank going out of business or putting customers’ money at risk.
Other financial institutions that aren’t regulated might not use the same levels of security and protection, potentially making them riskier for your savings.
T&Cs apply. Nomo accounts are not currently available to UK residents.
by
subsidiary of
Nomo by Bank of London and The Middle East plc (“BLME”) is a trading name of BLME. BLME is registered in England and Wales (no. 05897786), authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. BLME’s Financial Services Register number is 464292 and registered office is at 20 Churchill Place, Canary Wharf, London E14 5HJ.
We will collect and process information about you that may be subject to data protection laws. For more information about how we use and disclose your personal data, how we protect your information, our legal basis to use your information, your rights and who you can contact, please see our privacy notice.
